Prosperity acquires three bank branches

CORPUS CHRISTI - Prosperity Bancshares Inc., which has branches in Corpus Christi, will acquire three U.S. Bank branches in Texas. The banks signed a definitive agreement on Tuesday.

Houston-based Prosperity will pay about $420 million in deposits, as well as purchase certain loans and other assets attributable to the branches, according to a news release. None of the three U.S. Bank locations are in the Coastal Bend.

The acquisition brings the number of Prosperity banks to 161, said David Zalman, Prosperity's CEO and president, in the release. The deal is expected to close during the first quarter of the year.